Panel Assesses Impact of Inflation and Recession on ARM Industry

There’s beauty in finding connections that you didn’t know existed. There is the chaos theory analogy, for example, of a butterfly flapping its wings in Central Park, which is why it starts raining across the world in China. You never know the domino effect that one change can have as it cascades and ripples through everyone’s world. Those connections and cascades were the common thread that tied much of what the panelists on this week’s Talk-Off had to share.

The panel started talking about the economy and the impact that inflation and a potential recession may have on the accounts receivable management industry, and ended up talking about credit reporting, medical debt, digital debt collection, the Consumer Financial Protection Bureau, Buy Now, Pay Later, auto loan deficiencies, debt buying, and what is a debt? And that was all in the first 30 minutes.

It was a fascinating discussion that brought participants from different viewpoints and different segments of the industry together, to patch together a quilt that covered the whole industry. Operations, compliance, technology, sales and strategy were all touched on in some way or another.

The second half of the episode talked about the future of the office, and what collection agencies may look like going forward. Taking comments from the Chief Executive of Airbnb, who challenged people to think of what an office would look like today if you designed it from scratch without knowing what an office ever looked like, the panel talked about the importance of socialization and the impact that working remotely will have on career advancement.

EDITOR’S NOTE: Prefer to listen to The Talk-Off instead of watching it? Check out the podcast, which is just the audio recording from each episode. Never miss an episode by subscribing to the podcast on your favorite platform.

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